STOCKS | Hong Kong Shares Rise As Southbound Funds Turn Net Sellers

Hong Kong stocks closed higher on Friday, with the Hang Seng Index up 437 points, or 1.7%, at 25,650 after opening 302 points higher and touching an intraday high of 25,791, according to ETNet. Southbound funds recorded a net outflow of more than HK$10 billion for the day, reversing a net inflow of HK$3.395 billion the previous session. Mainboard turnover rose 38.9% to nearly HK$276.9 billion, while Southbound trading via Stock Connect accounted for nearly HK$106.7 billion, or 38.5% of total turnover. MiniMax (00100) was the top net buy at HK$948 million, followed by Zhipu (02513) at HK$607 million and Kingboard Laminates (01888) at HK$164 million. Tencent (00700) was the top net sell at HK$2.102 billion, followed by SMIC (00981) at HK$904 million and Akeso (09926) at HK$832 million. Alibaba (09988) also ranked among the top net buys at HK$138 million, while Genscript Biotech (01548) and Hua Hong Semiconductor (01347) were among the top net sellers at HK$824 million and HK$753 million, respectively.